Swedish gaming group Betsson has posted their 2017 financial results, noting that revenue for the period grew 12% from 2016.
Key financial indicators for the period ending December 31st, 2017 were:
- Revenues of SEK4.7 billion ($584.9 million), up 12% from 2016
- Gross Profit up 11% to SEK3.42 billion
- Operating income down 7% to SEK 882.2 million
- Net income down 10% to SEK786.5 million
- Deposits from customers up 13% to SEK16.31 billion
- Earnings per share down 10% to SEK5.68
Speaking about his company's performance Betsson CEO Pontus Lindwall noted: "We have identified and started to implement a number of improvements on both the product and the marketing side.
"The launch of the new front-end system for casino and sportsbook on desktop and apps should be completed during 2018.
"Betsson will focus marketing spend on key markets with the ambition to achieve a higher return on investment; as an example, we have scaled back on marketing volumes for the UK.
"During the first quarter 2018, Betsson restructured the operations; the new flatter organisation will enable the Company to work more efficiently."